{"id":244535,"date":"2025-07-26T06:26:37","date_gmt":"2025-07-26T10:26:37","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=244535"},"modified":"2025-07-26T06:26:38","modified_gmt":"2025-07-26T10:26:38","slug":"cabinet-ministers-hail-jolly-beach-redevelopment-as-visionary-investment-for-social-security-and-national-prosperity","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/cabinet-ministers-hail-jolly-beach-redevelopment-as-visionary-investment-for-social-security-and-national-prosperity\/","title":{"rendered":"Cabinet Ministers Hail Jolly Beach Redevelopment as Visionary Investment for Social Security and National Prosperity"},"content":{"rendered":"
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Cabinet Ministers Hail Jolly Beach Redevelopment as Visionary Investment for Social Security and National Prosperity<\/strong><\/p>

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Members of the Cabinet of Antigua and Barbuda, led by Prime Minister the Honourable Gaston Browne, toured the Jolly Beach Resort this week in anticipation of its full renovation and eventual vesting into the Social Security Scheme\u2014a bold move they say will transform a key national asset into a pillar of long-term economic and social resilience.<\/p>\n\n\n\n

The tour showcased the resort\u2019s revitalized facilities, improved since the government\u2019s intervention in 2022, and signaled the imminent start of the next phase of development.<\/p>

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Minister of Tourism, the Honourable Charles Fernandez, emphasized the strategic and symbolic importance of the property:<\/p>

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\u201cJolly Beach is easily the best beach on the island, and we\u2019ve had several potential investors eyeing this property. That alone tells us its worth. But Cabinet is united\u2014we must retain ownership. Currently, the hotel employs about 200 people, all of whom contribute to Social Security, Medical Benefits, and the Education Levy. Expanding this property means more jobs, more economic circulation, and greater national benefit.\u201d<\/p>\n\n\n\n

He also noted the transformation since 2022, recalling the property\u2019s previous derelict state:<\/p>

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\u201cThe pool had ducks swimming in it; the grounds were overgrown. What we see today is a direct result of strategic investment. And it\u2019s just the beginning.\u201d<\/p>\n\n\n\n

The Honourable Sir Molwyn Joseph, Minister for Health, described the investment as \u201cone of the smartest decisions\u201d the government has made:<\/p>

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\u201cThis is about expanding the economy, not just turning a profit. Social Security investing in the tourism sector\u2014especially with a partner like Elite Island Resorts\u2014ensures returns far beyond what traditional bonds offer. It strengthens the system, feeds back into medical benefits, the ABST system, and long-term pensions. The risk is low, and the reward is national.\u201d<\/p>

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He praised Prime Minister Browne for his foresight:<\/p>\n\n\n\n

\u201cEvery major decision this government has made has turned out to be the right one. This is no exception.\u201d<\/p>\n\n\n\n

The Honourable Anthony Smith, Minister for Agriculture, who was also on tour, called the plan \u201ca visionary step in economic governance\u201d:<\/p>\n\n\n\n

\u201cTourism, and hotels in particular, remain among the most lucrative sectors. Placing an asset like Jolly Beach into Social Security\u2019s portfolio is a powerful move\u2014one that protects pensions and empowers the system to sustain itself well into the future.\u201d<\/p>\n\n\n\n

Minister Daryll Matthew, Minister for Education and Cabinet member with expertise in real estate, reinforced the significance of public ownership:<\/p>\n\n\n\n

\u201cThis is a prime national asset that will remain in the hands of Antiguans and Barbudans. When Social Security owns it, the pensioners of this country own it. And it\u2019s already operational, already turning a profit, already poised to grow.\u201d<\/p>\n\n\n\n

He also highlighted the potential for nationwide benefit beyond economics:<\/p>\n\n\n\n

\u201cImagine the internships and training programmes that can come through ABHTI, the hospitality institute, and our vocational institutions. This is a gateway to long-term, multi-sector impact\u2014education, employment, and empowerment.\u201d<\/p>\n\n\n\n

In his closing remarks, Prime Minister Gaston Browne addressed critics and reaffirmed the government\u2019s proven leadership:<\/p>\n\n\n\n

\u201cWe have consistently delivered for the people of Antigua and Barbuda. Despite the naysayers\u2014some of whom are steeped in ignorance and devoid of experience\u2014we have maintained the competence to govern and uplift this nation. The people placed their trust in us for over 11 years, and we continue to justify that trust.\u201d<\/p>\n\n\n\n

\u201cThis initiative is not just about hospitality\u2014it\u2019s about securing the future of our Social Security Scheme. By investing in Jolly Beach, we reduce pressure to raise premiums or the pension age. The hotel already generates over USD $1.5 to $2 million in annual profit, and with CIP integration, the revenue potential is exponential,\u201d he stated.<\/p>\n\n\n\n

\u201cThis is how you sustain a nation. This is how you protect pensions, build wealth, and empower future generations.\u201d<\/p>\n\n\n\n

The government will bring the vesting of Jolly Beach into the Social Security Scheme to Parliament next week. The move is expected to offset long-standing government obligations, provide tangible investment returns, and secure a sustainable path forward for Social Security. <\/p>\n\n\n\n

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Cabinet tours Jolly Beach<\/figcaption><\/figure>\n\n\n\n
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Cabinet Ministers Hail Jolly Beach Redevelopment as Visionary Investment for Social Security and National Prosperity Members of the Cabinet of Antigua and Barbuda, led by Prime Minister the Honourable Gaston Browne, toured the Jolly Beach Resort this week in anticipation of its full renovation and eventual vesting into the Social Security Scheme\u2014a bold move they […]<\/p>\n","protected":false},"author":3,"featured_media":244540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-244535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCabinet Ministers Hail Jolly Beach Redevelopment as Visionary Investment for Social Security and National Prosperity - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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